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city_n penny_n pound_n shilling_n 22,719 5 13.6986 5 true
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A64908 An essay, for regulating of the coyn wherein is also set forth, I. How we have lost that import of plate and bullion we formerly had, II. What is become of the great quantities of money coyned in the reign of King Charles II and the preceeding reigns, III. The necessity there is at this time to rectifie the present coyn of the kingdom, IV. By what methods the charge of calling in the present mony, and bringing it to a designed standard, may be accomplished, V. Whether the method proposed for the advancing of our mony (and the bullion of which its made) be convenient or inconvenient for the trade of the nation.. A. V. (A. Vickaris) 1695 (1695) Wing V337A; ESTC R18695 23,153 38

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of their Coyn here at home so consequently the Goods you bring are rated to Cost you so let your Trade be for Mony or in Barter it tends to the same end and by it we lower our own Product and Manufactory and raise that of other Nations and Inrich them by our own Ruin Another Reason that may be given for Regulating our Coyn is because the poorer sort of the People in the Kingdom pay more than the amount of any Tax laid on them for the support of the War hath amounted unto particularly in Coals Corn and all things made of Leather these being bought and laid up by Monied Men who conclude thereby they shall see their Principal and Interest and prevent the Loss which they apprehend may be by the Coyn when regulated and is a great occasion of the rise of most other things Another Reason that may be given for the Regulating of the Coyn may proceed from the baseness of the Mettle and from the Clipped Mony which latter being of less Value than Coyned for giveth Incouragement to our Neighbours to Coyn Mony of the like weight and probably not of the full Allay and bring it over here which may be believed from the great profit they may make and of consequence we may increase the national loss five hundred thousand Pound a Year together with the bad Mony that may be imposed upon us by them and our own Country Men and it s not unlikely but the demand of Bullion may arise the more from the Expence this way For hitherto the Importation of our own Coyn hath not been regarded or taken notice of by the Officers of the Custom house or by others supposing it to be only a return of what is carried out by Travellers Soldiers and Seamen and Mony brought over in a Bag sealed up is so delivered to the Person that goeth aboard for it therefore it would be more convenient to have all Mony and Bullion lodged in some place and after it was inspected into delivered to the Owners thereof whereby the false Mony may be found out when so Imported Besides our Soldiers Seamen and Travellers take care to carry the best Mony out of the Kingdom for tho' bad goeth here it will not with other Nations and then its liable to be Clipped there and returned us Another Reason that may be given for the Regulating of our Coyn and Bullion is that when it s so done the Expence of the War may be carried on with less Charge than now it is for all Mony for the supply of our Fleet abroad costs the King twenty nine per Cent. more than it may be done for when the Mony is regulated For they that have Mony abroad will not give it under five Shillings and six Pence a piece of Eight because the Silver in a piece of Eight will yield them so much the Charge and hazard of bringing it home being deducted When Tangier was in possession of the English that Garison was supplied with pieces of Eight from Cadiz at four Shillings and four Pence which now costs the Nation to supply the Fleet five Shillings and six Pence and is twenty nine and one sixth per Cent. difference and in five hundred thousand Pounds one hundred forty five thousand eight hundred and thirty three Pound is saved CHAP. IV. Setting forth by what Method the Charge of Calling in the present Mony and reducing it to a designed Standard may be Accomplished FOR the making good the Loss that may arise by the Clipped Mony I do not apprehend any Method more effectual than the calling in all the coyned Silver and Gold and re-coyning it into pieces of the same denomination but of less Value in Substance And that value less in substance to be in proportion to what is requisite for making good the Loss by the clipped Mony which I do compute to be at least two Millions of Pounds Sterling Thus I suppose eight Millions of People and they to have twenty Shillings one with another in coyned Silver and that three quarters of it is clipped which is six Millions and that one third of that is clipped and worn away so that two Millions will be the Sum required to make the same good It cannot be imagined that I have undertaken to Treat on this Subject without making some Inquiry into the quantity of the Mony there may be and what may be lost by the clipped Coyn. And altho I may err in the Computation of the quanity yet the quality may be pretty near computed and upon tryal I have found That five Shillings of Milled-mony hath weighed eight Shillings of the present currant Mony and three Shillings of the eight was not clipped only worn Again I have found ten Shillings in Mill'd-mony to weigh twenty one Shillings of the clipped Mony Again Twenty Shillings Mill'd-mony to weigh forty three Shillings of our now Currant Mony I have gone to several Goldsmiths in London and have got them to take out of their Counters a Bag of one hundred Pounds as came to hand which upon tryal I have found at one place to weigh   Oz. dw gr A Bag of 100 l. 230 13 6 Another place 100 l. weighed 222   15 Another place 198 17   Another place 190     Another place 182 3   Another place 174 11 20   1198 05 17 The six hundred Pounds weighing in all one thousand one hundred ninety eight Ounces five penny Weight and seventeen Grains and is no more than what three hundred and ten Pounds in Mill'd-mony will weigh I am informed the Mony paid into the Exchequer doth weigh from fifteen and seldom the 100 l. reacheth to twenty Pounds weight So that the very best brought in there doth not weigh two thirds of what it ought to do and the Mony paid into the Exchequer is supposed a great part of it to come from the Country But as it 's believed that the Mony in the Country is generally not the one half so bad as it 's in and near London I have procured an Account to be sent me from the following Cities from whence I am informed that one hundred Pounds doth weigh on tryal of two Bags in each place to be viz.   Oz. dw gr In the City of Bristol one Bag of 100 l. weighed 240 00 00 another weighed 227 15 00 In the City of Cambridge a Bag of 100 l. weighed 203 05 10 another weighed 211 00 19 In the City of Exon one Bag of 100 l. weighed 180 07 00 another weighed 192 03 00 In the City of Oxford 100 l. in half Crowns weighed 216 10 00 100 in Shillings 198 00 15 Oz. 1669 01 20 The eight hundred Pounds weighing sixteen hundred and sixty nine Ounces one Penny weight and twenty Grains and is not more than four hundred thirty one Pounds fifteen Shillings of Mill'd-mony will weigh and but a very small difference between the weight of the Mony in London and the Country And if